AUD/JPY extends gains above 100 today

It has been nearly 10 years since the AUD/JPY was last above 100, but it has reclaimed that level  in 2024. The push above 100 extended even further earlier today after the latest Australian CPI data release. Annualised Australian CPI showed a rise of 3.5% earlier today which was slightly above the 3.4% gain expected. Granted that is not a huge rise, but it seems to have snapped the recent run of lower prints and that has helped to push the AUD/USD back above 0.6500 today. The AUD/USD had closed last night in the US at 0.6487. The CPI data helped to rise to 0.6530 earlier. Perhaps more importantly, with the USD/JPY still ganging up on that 155 level, it has pushed the AUD/JPY to its best levels of the year, reaching a new 10 year high too, at 101.02 earlier. It has backed off a little now though, but we should not forget the long-standing Japanese investor interest in this particular carry trade, traditionally the most favoured off all in years gone by